ScaleUp Group client, Certino is on its way to becoming the world’s first SPaaS (“Shadow Payroll as a Service”) solution, which enables providers to plug real-time, accurate shadow payroll calculations into their existing solutions whilst retaining total ownership of the end-customer experience.
Driven by first-hand experience of the complexity of international employment tax management – including cost, risks and considerable strain on in-house teams, – CEO Richard McBride started Certino in 2017 with a clear vision: to make shadow payroll simple.
What is Shadow Payroll
Shadow payroll is a parallel system used by multinational companies to handle taxes and compliance for employees working in foreign countries.
In today’s interconnected world, an estimated 8 million individuals are either on international assignments or working remotely abroad at any given time. As companies strive to navigate the complexities of a global workforce, the importance of an effective Shadow Payroll service provider cannot be overstated. They play a crucial role in relieving the pressure on companies by ensuring compliance with host countries’ tax requirements, thereby avoiding the risk of accumulating liabilities through miscalculations.
Traditionally, Shadow payroll relies on manual calculations by tax professionals across a global network of offices; the result is a high-cost, inefficient process delivering a poor customer experience. By contrast, Certino’s platform is used to calculate real-time, accurate and cost-efficient monthly shadow payroll calculations (not estimates), partnering with the following organisations: payment processing, payroll, tax management service providers and consultants, and more.
Client organisations chose Certino’s platform due to its ability to simplify complex tax calculations, remain compliant and reduce overall delivery costs. It seamlessly integrates into existing payroll processes, having created, coordinated and maintained tax engines across multiple jurisdictions; capable of automating high volume calculations for a myriad of tax reporting requirements i.e. tax and social security liabilities (in the host location) across 95 countries to date.
The industry is at an inflexion point where technological led solutions are primed to revolutionise the once labour-intensive tax computations. Future trends in technological advancements driven by Certino will generate a compounding effect via the future development of the following: (i) self-service customer applications enabling new customers to more rapidly integrate automated global shadow payroll calculations into existing operations; (ii) ML/AI – powered compliance rules engines automatically flagging compliance and calculation quality.